Having passed through the agricultural and industrial revolutions, it is now widely accepted that society has entered a new era, the information revolution. Driven by the development of the microprocessor, this new era is characterized by high growth in service industries, globalisation, and rapid change brought about by constant technological innovation.
It is estimated that tangible assets (capital, buildings etc.) may now account for as little as 10% of an organization's total assets, with the balance attributed to intellectual assets such as knowledge, experience, and people.
Few large corporations live even half as long as a person. By 1983, one third of Fortune 500 companies from 1970 had vanished. There is abundant evidence that many were unable to recognize impending threats, identify the implications, or develop responses. Keeping ahead of competition requires the creation of an external focus along with a capacity to adapt quickly to a changing environment.
Rather than deliver the paperless office, the information revolution has been responsible for many companies drowning in a sea of data at the same time as being starved of knowledge. This is known as "Analysis Paralysis".
Too much information can be both expensive and difficult to manage. Important information can be easily missed. Too little information can see important opportunities missed, or decisions made based upon incomplete or invalid assumptions.
In the present context, "knowledge" may be defined as "information made actionable". In other words, knowledge is created from information when the experience and skills of a reader are applied in assessing the content of the information in the light of a particular problem or issue, thereby allowing action to be taken. Knowledge is thus a combination of information and the expertise of the reader in interpreting and applying that information.
A "knowledge worker" is a person who works with information. Most knowledge workers have other defined responsibilities in an organisation, in management, marketing, design, etc. It is the role of the knowledge worker to transform available information into the knowledge needed to make business decisions by using his/her experience and skills to interpret and analyse the information, often consulting with others, before delivering a final judgement.
This process of knowledge creation leads to an increase in the organization's intellectual assets. Sadly, however, such knowledge is often left in the head of the creator where it cannot be easily shared and is easily lost. Interest in capturing this important strategic resource has given rise to a new field of science known as "knowledge management".
In the present context, the term "knowledge management" is intended to include the processes involved in collecting information and knowledge, creating new knowledge from that material and disseminating that knowledge.
A general objective of the present invention is thus to provide methods and systems for facilitating knowledge management within organizations.